Published:
Singapore GDP predicted to grow 3.9% in 2014
And 4.1% come 2015.
According to ADB, the expected global economic recovery and the consequences of ongoing domestic economic restructuring will shape economic trends in Singapore in the forecast period.
Here's more from ADB:
With export of goods and services equivalent to twice of GDP, the economy will benefit from improved external demand.
On the other hand, the tighter labor market will weigh on growth, with 1.8% unemployment and on a downward trend and vacancies far exceeding job seekers.
On balance, GDP is forecast to grow by 3.9% in 2014, near the upper bound of the government’s forecast of 2%–4%, and by 4.1% in 2015.
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